Bill Gates-backed ESS — which makes giant batteries out of iron, salt and water — starts trading

Published

4 years ago

October 11, 2021

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An ESS Inc battery.

Photo courtesy ESS Inc

ESS is trying to solve a critical problem with renewable energy: How to store energy from wind and solar installations when the wind isn’t blowing and the sun isn’t shining.

The company’s proposed solution is a long-duration energy storage batteries made of iron, salt and water, which are much cheaper and more readily available than the elements used in batteries today, like lithium and cobalt. Its early momentum attracted $57 million in investments from powerful backers like Bill Gates and Softbank, CEO Eric Dresselhuys told CNBC.

On Monday, it hits another milestone, going public via SPAC to begin trading on the New York Stock Exchange on Monday under the ticker symbol GWH. It hopes to raise $308 million through the deal.

“There have been very few solutions for this long duration up until now, and it’s largely driven from the fact that we didn’t rely on energy storage as a major solution for hardening the system,” said Dresselhuys, who became the CEO of ESS this year after decades of energy and technology executive experience.

The company launched in the garage of co-founders Craig Evans and Julia Song in Portland, Ore., in 2011 (they’re a married couple, in addition to being business partners), then moved to the Portland State Business Accelerator before expanding to its current 200,000-square-foot headquarters.

The company is backed by Bill Gates’ clean energy investment firm Breakthrough Energy Ventures, SB Energy (a wholly owned subsidiary of SoftBank) and multinational chemical company BASF, among other investors. The SPAC comes through a reverse merger with ACON S2 Acquisition Corp., run out of private equity firm Acon Investments.

ESS has not recorded any revenue yet, according to financial filings dated Sept. 8, but Dresselhuys says it has shipped product to customers, including TerraSol Energies in Pennsylvania and Siemens-Gamesa in Denmark; investor documents claim several other unnamed utilities as customers also. Also, ESS has orders in the pipeline from SB Energy and Enel Green Power España.

The company lost $245.3 million in the first six months of 2021, but only $18.4 million were operating losses (the remainder was due to losses on reevaluations of warrant and derivative liabilities). Operating losses were $17.4 million for 2021, and it expects to record its first profit in 2023.

Iron, salt and water: Safe, readily available materials

The big breakthrough for ESS is a long-duration battery built from readily available materials, explained Carmichael Roberts, a co-chair of the investment committee at Breakthrough Energy Ventures In a battery, the electrolyte is the liquid medium that connects the two ends of a battery, the anode and the cathode.

“The flow battery is cheaper, safer and has better operational life than conventional lithium-ion storage,” Roberts said.

Making a battery out of iron, salt and water means “there’s no toxicity, the technology we build doesn’t start fires or doesn’t blow up in fire,” said Dresselhuys.

Also, ESS batteries do not have lithium or cobalt, two common elements in batteries that are being impacted by supply chain crunches.

“Both are in potentially short supply globally and none are produced in the U.S.,” said Jesse Jenkins, an assistant professor at Princeton University who specializes in the energy grid.

“Lithium is less of an issue in the long run, as long as we recycle lithium ion batteries, but there may be some short-run price increases as production ramps up to match battery demand for EVs,” Jenkins said.

“Cobalt is a bit trickier and has come under fire for some of the supply chain relying on quote unquote ‘artisanal mines’ in Africa, which employ forced labor, and child labor in some cases, with people digging out cobalt by hand and very, very harsh conditions,” Jenkins said.

Neither does ESS use vanadium, a chemical element used in some flow battery technology. While promising, Dresselhuys says it’s too expensive to be meaningful.

“It’s one thing to make something work, and that can be very difficult. But it has to work cost effectively to be viable as a system because of the scale we’re talking about,” he said.

How the battery works: ‘The elegance is the simplicity’

Visualize a sandwich, said ESS’s business development lead, Hugh McDermott. The ESS battery technology is a stack of carbon plates with salt water with iron flowing through each layer.

Iron comes out of the salt water solution and sticks to one side of the plates. When the polarity of the plates is changed, the iron dissolves back into the water solution.

From a battery management control system, the flow of the ions can be switched, thereby also switching the flow of electricity onto and off the grid.

ESS Inc’s iron flow battery “stack.”

Image courtesy ESS Inc.

The idea of a iron flow battery has been around since the 1970s, Dresselhuys said. But there were technical issues that scientists hadn’t solved.

For example, early iterations of the iron flow battery technology would work for a while, but the electrolyte fluid would become imbalanced, build up on the battery, and the battery would become ineffective over time. To fix this, ESS developed a proton pump, which Dresselhuys says “allows the system to keep itself in balance throughout all of those charges and discharges so that the electrolyte is entirely clean.”

Early research was funded in part by almost $3 million dollars in grant funding from the Department of Energy’s ARPA-E program, as well as individuals and local investment funds.

“The elegance is the simplicity,” said Rich Hossfeld, co-CEO at SB Energy and a board member at ESS. (SB Energy is not only an investor, but also a customer.)

But it took a lot of research and development to get a simple solution to work. ESS has been working on research and development for a decade. The proton pump was a really key breakthrough for the company, but one of many.

“There’s a very large intellectual property moat around the core technology and that will make it very difficult for other competitors to build a battery that is similar to ESS’ battery,” Hossfeld told CNBC.

An ESS Inc battery

Photo courtesy ESS Inc

Another long duration battery being developed by Form Energy also uses iron and also is backed by Breakthrough Energy Ventures. Form, however, is developing iron-air batteries, which uses different technology and aims to provide energy storage for multiple days.

ESS batteries can store energy for 4 to 12 hours, whereas the lithium batteries in cars are typically capped between two and four hours, Dresselhuys said.

To go above four hours of energy storage with lithium-ion batteries requires increasing the number of lithium-ion cells, Hossfeld told CNBC. ESS, on the other hand, can just add more water, iron and salt to a bigger tank of its stack-sandwiches.

“The way to think about ESS cost-wise is they are cost parity with lithium ion at four hours, and about half the cost above that, which we think creates a big advantage for them,” Hossfeld told CNBC.

Another key to the ESS iron-flow technology is its resilience.

“Capacity stays the same between year one and year 20,” Hossfeld said. Anyone who has a cellphone knows that is not the case for lithium-ion batteries. “You open it up, it comes out of the case, right now it will give you 10 hours. We all know it doesn’t give you 10 hours in a year, right?”

Energy centers are co-located with a wind or solar farm, allowing the batteries to charge up during the day when the sun is shining and then discharge in the late afternoon when there is typically a bump in energy demand.

SB Energy’s first installation of ESS Inc batteries in Davis, Calif. SB Energy is an investor in ESS and also a customer. These are batteries SB Energy purchased.

Photo courtesy SB Energy

Similarly with wind. “You can store four, eight, 10 hours of wind plants in the middle of the night and then discharge it during the day as needed,” Hossfeld told CNBC. “We look at ESS as a really good complement to that daily cycling between wind and solar.”

The Energy Warehouse, the only ESS product that exists so far, is the size of a shipping container, 40 feet long and 8 feet wide.

“That container holds 500 kilowatt hours of energy. That’s roughly the energy that you would need to power 20 to 30 homes, depending on where you are in the country,” McDermott told CNBC.

Four ESS Inc batteries

photo courtesy ESS Inc

ESS is also building a product called Energy Centers intended for utilities and independent power producers — for instance, businesses that own large solar farms who then sell that power to the grid.

For these kinds of larger customers, ESS will use similar battery technology, but the battery modules will be contained together in a building. Customer trials are expected to begin in 2022.

The big challenge: Getting an iron flow battery to scale

While iron-based batteries are a well-known technology, the big challenge has been getting them to scale.

“Iron based chemistries for flow batteries have a long and storied history, rightfully so because in theory they have some of the lowest theoretical costs possible. On paper these systems scale quite well,” explained Dan Steingart, Associate Professor of Chemical Metallurgy at Columbia University

But the reality has been quite different.

“We have not seen widespread adoption of this class of batteries and its cousins because of last-mile engineering challenges that have in the past added unacceptable capital and operating costs when compared to other available technologies,” Steingart told CNBC.

Flow batteries depend on pumps and membranes that are highly technical. “Think a kidney, writ very large, working 10,000 times harder than it has to, all the time,” he said. “It has been very difficult to have these, in practice, operate in a reliable manner without significant ancillary systems (that make the system more expensive upfront) or maintenance calls (which increase running costs).”‘

That said, Steingart notes the “sufficient capital” ESS has raised to validate its solutions to these challenges.

Also, ESS in September secured a 10-year battery warranty backed by the insurance giant Munich Re, which “is a strong signal of a positive outcome,” Steingart told CNBC.

Cost is another conern.

“The iron flow battery technology looks very promising as it is safe, environmentally friendly, uses non-toxic materials that can be sourced in the US, and doesn’t degrade over time and over multiple cycles,” Jan Pepper, the CEO of Peninsula Clean Energy, told CNBC.

Peninsula Clean Energy, a community energy buyer and the official power provider for San Mateo County in Calif., has not worked with ESS directly, but it’s trying to deliver cost-competitive 100% renewable energy on a 24/7 basis by 2025. Pepper knows that energy storage will help meet those goals.

“The current challenge with iron flow batteries is the cost,” Pepper said. “If companies like ESS can bring the cost down for their technology, then they and others will be able to make a meaningful impact in decarbonization efforts and help organizations like Peninsula Clean Energy meet our ambitious goals.”

As Steingart told CNBC, “A goal I use is in my lab for long duration energy storage: The battery has to cost about the same price as dog food per pound and last forever with little intervention.”

That said, if ESS can do what its investors think it can, “the successful execution of this chemistry would be a significant milestone for grid scale energy storage,” Steingart told CNBC.

Environment

Alibaba delivers again with this crazy octuple (8x) suspension e-bike for $350

Published

2 hours ago

September 6, 2025

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Alibaba delivers again with this crazy octuple (8x) suspension e-bike for 0

I’m going to start this off by immediately begging you not to buy this ridiculous contraption you’ll see in the article below. You’ve been warned. Ok, now feast your eyes on this monstrosity! A $350 e-bike from Alibaba that comes with not just a suspension fork, not just full-suspension, but at least five more shocks than any bike should ever conceivably possess, seemingly randomly sprinkled around the bike’s frame.

Credit goes to my publisher, Seth, for finding this absolute gem. He and I play a little game where we send each other increasingly ridiculous Alibaba finds, trying to one-up the insanity of the other’s previous find. This one is definitely a contender.

Spotted on AliExpress’s platform, the site that makes it dangerously easy to procure the strangest (and sometimes coolest) things from the Far East, this is an e-bike that just keeps on giving.

First of all, check out the suspension. There’s a front suspension fork, which is theoretically standard. There’s also rear suspension, but instead of the single rear shock or occasional dual shocks (one on either side), the designers of this e-bike gave us quad shocks. Then, instead of leaving not-well-enough alone, they decided that a rear swingarm with quad shocks wasn’t enough, and then turned the entire rear half of the e-bike into another swingarm with two more shocks.

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At this point, I’m starting to get confused. Do we call the battery sprung or unsprung weight now?

This much suspension is like trying to drink from a firehose, but we’re not even finished. Because if that wasn’t enough springiness for you, there are two more springs in the saddle, technically bringing us up to 10 springs total! A guy hit a speed bump on this e-bike last week, and some say he’s still bouncing.

While I’d like to give them the benefit of the doubt, my experience with the cheapest of Alibaba e-bikes tells me that they likely didn’t modify the spring rate of the shocks when they just kept copy/pasting them. That means the bike probably rides stiffer than if it had half the number of shocks (or it just has the proper pre-load for a 600 lb rider).

Unfortunately, the rest of the bike is rather par for the course in terms of cheap direct-from-China electric bicycles. We’ve got our “500 Watt” motor, a surprisingly large 48V 15Ah battery, folding handlebars, a cute little rear kid’s seat complete with grab bar (a nice touch, to be honest), a full twist throttle, fenders, and even a complete lighting package with turn signals.

The 66-lb (30 kg) bike isn’t very light, but each of those shocks adds to the poundage, not to mention all the other doodads we’ve got bolted on around the bike.

The bike still folds in half, which is surprising considering most of the frame is taken up by springs. At first glance, I didn’t even see the folding mechanism hiding there.

It’s a wild specimen, and the free shipping to the US makes the $350 price even more tempting. But please don’t buy something like this (that lead image is AI-generated… I didn’t buy or ride this!). There are some real concerns here. Who knows what kind of quality control or safety certification went into that battery, let alone the frame and other key components?

Let’s just enjoy this one on the screen like most of my Alibaba finds and appreciate that someone out there said, “let’s see how many cheap shocks we can fit on a bike,” and nobody stopped them.

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Environment

Yes, an EV really CAN power your home – if it’s one of these (*)

Published

12 hours ago

September 6, 2025

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Yes, an EV really CAN power your home – if it's one of these (*)

Can an EV really help power your home when the power goes out? It’s one of the biggest FAQs people have about electric cars — but the answer can be a bit confusing. It’s either a yes, with a but – or a no, with an unless. To find out which EVs can offer vehicle-to-home (V2H) tech to keep the lights on or even lower your energy bills, keep on reading.

Modern EVs have big, efficient batteries capable of storing enough energy to power home for days. That can mean backup power during a storm or the ability to use stored energy during expensive peak hours and recharge again when kilowatts are cheap.

That’s all true – but only in theory. Because, while your EV might have a big battery, that doesn’t mean it has the special hardware and software that allow electricity to safely flow back out of the car baked in. Car companies call this vehicle-to-home (V2H) or bi-directional charging, and only a handful of models currently support it. That’s that, “yes, with a but” asterisk.

Yes, an EV can power your home, but it has to be one of these.

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Ford F-150 Lightning

Ford-Lightning-V2H — F-150 Lightning powers home; via Ford.

Ford made early headlines using its F-150 Lightning as a life-saving generator during winter ice storms and hurricanes, so it should come as no surprise that it’s included in this list. The best-selling electric truck in America can send up to 9.6 kW of power from its onboard batteries back to the house. More than enough to keep the lights on and the refrigerator running during an outage.

To make it work, you’ll need to install the Charge Station Pro (formerly called Intelligent Backup Power) home charger, the Home Integration System (HIS), which includes an inverter, a transfer switch, and a small battery to switch the system on, as well Ford’s Charge Station Pro 80A bi-directional charger (which comes free with the Extended Range F-150 Lightning, but costs about $1,300 otherwise).

All-in, you’re looking at about $5,000 in hardware, plus installation, to make it work.

Kia EV9

With up to 300 miles of range and ultra-fast charging, the seven-passenger electric SUV from Kia has been a hot seller. And back in March, the Kia EV9 unlocked yet another new feature: vehicle-to-home charging.

When paired with the Quasar 2 bidirectional charger from Wallbox (and the associated Power Recovery Unit, or PRU), a fully-charged Kia EV9 can power a standard suburban home for three days. Longer, still, if you’re keeping the energy use low. The Wallbox Quasar 2 isn’t cheap, though – pricing starts at $6,440 (again, plus installation). For that price, you the PRU plus a wall-mounted 12 kW L2 charger with 12.8 kW of with discharge power on a split-phase system.

Pretty much all the GM EVs

new-Chevy-Bolt-EV — Chevy Silverado, Equinox, and Blazer EVs at Tesla Supercharger; GM.

With the exception of the Chevy Brightdrop, GMC Hummer EV, and the hand-built, ultra-luxe Cadillac CELESTIQ, every Ultium-based GM EV can send battery power back to your home through GM Energy’s Ultium Home System – arguably the most fully integrated EV + battery backup + solar option out there outside of Tesla.

GM Energy says its new 19.2 kW Powershift Charger delivers around 6-7% more juice than a typical 11.5 kW L2 charger, delivering up to 51 miles of range per charge hour. Bi-directional charging requires the Powershift Charger to be paired up with a compatible GM EV and the GM Energy V2H Enablement Kit. The full system retails for $12,699, plus installation, and can be financed through GM Financial.

NOTE: some 2024 models might require a software update to enable V2H functionality, which can be done either at the dealer or through an OTA update.

Tesla Cybertruck

Tesla Cybertruck owners may have zero taste, but they have two options when it comes to powering their homes with their trucks. If they already have a Tesla Powerwall, they don’t need anything else. If they don’t, they’ll need to install a Universal Wall Connector charger, a Powershare Gateway, and a Tesla Backup Switch.

That second option will run about $3,500, plus installation.

That rounds off the list of vehicles that ship with V2H software baked in, so if you’re wondering whether or not your EV can be used to power your home, now you know the answer is yes, as long as it’s one of the ones listed above.

But you might remember that I answered the initial question by saying it was either a yes, with a but – or a no, with an unless. So if you want to use your car’s battery as a backup, but don’t have one of the EVs liksted above, that doesn’t mean you’re completely out of luck.

No, with an unless

[embedded content]

Fred Lambert explains Sigenergy V2X system.

As some of the earliest and most enthusiastic EV adopters, Tesla fans have also been among the loudest advocates for using the energy stored their cars’ batteries to back up their homes — or even the grid itself. Unfortunately for them, the slow-selling Cybertruck is the only Tesla vehicle that officially supports bi-directional charging. If you’re one of the many Model 3 and Y owners frustrated by those delays, there’s good news: those vehicles are now capable of V2H charging thanks to an “impressive” Powerwall competitor, Sigenergy.

The good news doesn’t stop there, however. The Sigenergy V2X also works with both the popular Kia EV6 and Electrek‘s 2024 EV of the Year, the Volvo EX30 over the DIN70121 protocol, and several VW/Audi/Porsche and Mercedes-Benz EVs over the ISO15118-2 protocol.

Our own Editor-in-Chief, Fred Lambert, recently went on a Sigenergy deep dive with Sylvain Juteau, President of Roulez Electrique, and came away deeply impressed with the system. I’ve included the video, above, and you can read more about the system itself at this link.

And, of course, I look forward to learning about any V2H models or more universal battery backup systems from you, the smartest readers in the blogosphere, in the comments.

Original content from Electrek.

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Environment

Tesla changes meaning of ‘Full Self-Driving’, gives up on promise of autonomy

Published

16 hours ago

September 5, 2025

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Tesla changes meaning of 'Full Self-Driving', gives up on promise of autonomy

Tesla has changed the meaning of “Full Self-Driving”, also known as “FSD”, to give up on its original promise of delivering unsupervised autonomy.

Since 2016, Tesla has claimed that all its vehicles in production would be capable of achieving unsupervised self-driving capability.

CEO Elon Musk has claimed that it would happen by the end of every year since 2018.

Tesla has even sold a software package, known as “Full Self-Driving Capability” (FSD), for up to $15,000 to customers, promising that the advanced driver-assist system would become fully autonomous through over-the-air software updates.

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Almost a decade later, the promise has yet to be fulfilled, and Tesla has already confirmed that all vehicles produced between 2016 and 2023 don’t have the proper hardware to deliver unsupervised self-driving as promised.

Musk has been discussing the upgrade of the computers in these vehicles to appease owners, but there’s no concrete plan to implement it.

While there’s no doubt that Tesla has promised unsupervised self-driving capabilities to FSD buyers between 2016 and 2023, the automaker has since updated its language and now only sells “Full Self-Driving (Supervised)” to customers:

The fine print mentions that it doesn’t make the vehicle “autonomous” and doesn’t promise it as a feature.

In other words, people buying FSD today are not really buying the capability of unsupervised self-driving as prior buyers did.

Furthermore, Tesla’s board has just submitted a new, unprecedented CEO compensation package for shareholders’ approval, which could give Musk up to $1 trillion in stock options pending the achievement of certain milestones.

One of these milestones is Tesla having “10 Million Active FSD Subscriptions.”

At first glance, this would be hopeful for FSD buyers since part of Musk’s compensation would be dependent on delivering on the FSD promises.

However, Tesla has changed the definition of FSD in the compensation package with an extremely vague one”

“FSD” means an advanced driving system, regardless of the marketing name used, that is capable of performing transportation tasks that provide autonomous or similar functionality under specified driving conditions.

Tesla now considers FSD only an “advanced driving system” that should be “capable of performing transportation tasks that prove autonomous or similar functionality”.

The current version of FSD, which requires constant supervising by the driver, could easily fit that description.

Therefore, FSD now doesn’t come with the inital promise of Tesla owners being able to go to sleep in their vehicles and wake up at their destination – a promise that Musk has used to sell Tesla vehicles for years.

Electrek’s Take

The way Tesla discusses autonomy with customers and investors versus how it presents it in its court filings and legally binding documents is strikingly different.

It should be worrying to anyone with an interest in this.

With this very vague description in the new CEO compensation package, Tesla could literally lower the price of FSD and even remove base Autopilot to push customers toward FSD and give Musk hundreds of billions of dollars in shares in the process.

There’s precedent for Tesla decreasing pricing on FSD. Initially, Musk said that Tesla would gradually increase the price of the FSD package as the features improved and approached unsupervised autonomy.

That was true for a while, but then Tesla started slashing FSD prices, which are now down $7,000 from their high in 2023:

The trend is quite apparent and coincidentally began when Tesla’s sales started to decline.

FSD is now a simple ADAS system without any promise of unsupervised self-driving. This might quite honestly be one of the biggest cases of false advertising or bait-and-switch ever.

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